RBA justifies September rate cut
A slowdown in demand allowed for a cut in the cash rate by 25 basis points to 7%, according to minutes from the September board meeting of the Reserve Bank of Australia.
The board members concluded that the slowdown in demand would bring inflation back towards the 3% target. The tightening in financial conditions together with higher oil prices, had worked to dampen demand and economic activity, the members noted.
The board said that there were risks in waiting too long with policy easing, as
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